representative work

Great Hill Partners Makes All Cash Offer to Acquire VersaPay Corporation


On December 13, 2019 VersaPay Corporation (TSXV: VPY) (“VersaPay”) and Great Hill Partners (“Great Hill”), a leading growth-oriented private equity firm, announced that VersaPay and an affiliate of Great Hill have entered into a definitive arrangement agreement (the “Arrangement Agreement”) whereby Great Hill will indirectly acquire all of the issued and outstanding common shares of VersaPay by way of a statutory plan of arrangement under the Canada Business Corporations Act.

Under the terms of the Arrangement Agreement, each VersaPay shareholder will receive cash consideration of C$2.70 for each VersaPay Share held, valuing VersaPay’s total equity at approximately C$126 million on a fully diluted basis. The consideration represents a 47.5% premium to the closing price of the VersaPay Shares on the TSX Venture Exchange on December 12, 2019.

VersaPay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs.

Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the consumer, digital infrastructure, financial technology, healthcare, and software sectors.

Cassels represents VersaPay with a team led by Jake Bullen (Private Equity and M&A) and Alex Pizale (Securities and M&A) and including Frank Arnone (Private Equity and M&A), Alex Iliopoulos (Securities and M&A), Conrad Lee and Florence Lau (Business), Andrew Reback and Corinne Grigoriu (Tax), Caitlin Russell (Employment), Peter Sullivan and Mike Tallim (Financial Services) and Steven Kennedy (IP).